February 06, 2009, 8:15 PM PST
Fannie Mae Mortgage Backed Securities (MBS) Down .069 basis points (bps) to 4.727%
*A Basis Point (bps) is 1/100 of 1.00%
National Average Fixed Rate Mortgage unchanged at 5.29% on 02-05-09
Rates have just reached a position where downside potential outweighs the upside and some marketing profit may be available for the next few days.
DJI Stocks: 8,257.09 up +194.02 +2.41%
European and Asian Markets Up 2.39%
10 Year Treasury currently 2.95%
Crude Oil Currently $38.59 per barrel.
New Hope For Down Payment Assistance. A bill to reinstate reformed downpayment assistance was introduced last week. The bill was introduced by Congressman Al Green (TX) with bipartisan support and it will have the same language as unanimously passed last year by the House Financial Services Committee.
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